SECP constitutes divestment committee for PSX

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The Securities and Exchange Commission of Pakistan (SECP) has constituted a divestment committee for the divestment of shares of the Pakistan Stock Exchange Limited (PSX).

The committee comprises four newly elected directors of the exchange Abid Ali Habib, Muhammad Yasin Lakhani, Abdul Majeed Adam and Ahmed Chinoy, and renowned capital market experts with extensive experience Arif Habib, Najam Ali, Ferozuddin Cassim, Amin Issa Tai, Muhammad Sohail and Shehzad Chamdia.

The divestment committee has been notified in terms of requirements of the Stock Exchanges (Corporatisation, Demutualization and Integration) Regulations, 2012 and has been entrusted with ensuring completion of the divestment process within six months.

It is expected that post integration, PSX will be able to attract global strategic investors and financial institutions and form technological partnerships to fulfill the objectives of integration, become a major regional investment hub and play its due role in the development of national economy.

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